Main Street Capital Corporation — Q3 2026 Earnings Summary

Financial Performance

• Preliminary estimate for third quarter 2026 net investment income (NII) is $0.87 to $0.91 per share.
• Preliminary estimate for distributable net investment income (DNII) is $0.94 to $0.98 per share.
• Preliminary estimate for DNII before taxes is $0.96 to $1.00 per share.
• Estimated net asset value (NAV) per share as of September 30, 2026, is $34.18 to $34.26.
• NAV per share increased by $0.26 to $0.34 (0.8% to 1.0%) from $33.92 as of June 30, 2026, after the impact of a $0.30 per share supplemental dividend paid in September 2026.
• Estimated annualized return on equity for the third quarter is over 14%.
• Investments on non-accrual status comprised 0.9% of the total investment portfolio at fair value and 3.5% at cost as of September 30, 2026.
• Net fair value appreciation on the investment portfolio was driven by the lower middle market (LMM) portfolio, private loan portfolio, and other investments, partially offset by depreciation in the middle market portfolio and the wholly-owned external investment manager.
• LMM portfolio activity included $61.5 million in total investments, resulting in a net decrease of $19.4 million in total cost basis after repayments, return of equity, and realized losses.
• Private loan portfolio activity included $162.0 million in total investments, resulting in a net decrease of $1.8 million in total cost basis after repayments, return of equity, and realized losses.

Guidance and Future Outlook

• Management expects to maintain SBIC debentures under the SBIC program in the future, subject to periodic repayments and borrowings, up to the regulatory maximum amount.
• The company anticipates sharing full details of third quarter 2026 results in the upcoming earnings release.

Business Segments and Product Lines

• The LMM investment portfolio and private loan investment portfolio were the primary drivers of net fair value appreciation.
• The middle market investment portfolio experienced net fair value depreciation.
• The wholly-owned external investment manager experienced fair value depreciation.

Other Key Points

• Main Street Mezzanine Fund, LP, an SBIC wholly-owned by the Company, received SBA approval to increase borrowing capacity by $75.0 million to $250.0 million.
• Combined with Main Street Capital III, LP, the Company has access to $425.0 million of the recently increased $475.0 million regulatory maximum SBIC debenture borrowing capacity for affiliated SBIC funds.
• The third quarter 2026 earnings release is scheduled for Thursday, November 5, 2026, after market close.
• A conference call regarding the results is scheduled for Friday, November 6, 2026, at 10:00 a.m. Eastern time.
• The preliminary estimates are subject to adjustments during quarter-end closing and third-party review procedures, and actual results may differ materially from these estimates.